Napa Wealth Management
- SEC CIK
- 0001602844
- Latest filing
- Nov 12, 2025
The latest 13F from Napa Wealth Management covers Q3 2025 (filed Nov 12, 2025): 148 long positions worth $213.4M. The top 10 holdings make up 33.7% of the portfolio, and the largest is Pacer FDS Tr at 4.4%. Livermore has 8 filings on Form 13F from this institution, going back to Q4 2023.
What changed in Q3 2025
Share counts compared with Q2 2025: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.
- New
- 49
- Est. +$62.1M
- Added
- 47
- Est. +$18.0M
- Reduced
- 47
- Est. −$35.1M
- Sold out
- 33
- Est. −$50.0M
Top 5 holdings
Share of this quarter's portfolio value
- Pacer FDS Tr69374H8404.4%$9.47M
- Invesco Nasdaq 100 ETF46138G6494.2%$8.86M
- Ea Series Trust02072L5653.6%$7.70M
- Series Portfolios Tr81752T5363.5%$7.43M
- Tidal Trust I8863643713.2%$6.93M
Biggest buys
New and added positions, by estimated amount bought
- Series Portfolios Tr81752T536+$7.43MNew
- Tidal Trust I886364371+$6.93MNew
- Tidal Trust I886364363+$6.82MNew
- Invesco Exch Traded FD Tr II46138E339+$6.49MNew
- iShares Tips Bond ETF464287176+$5.03MNew
Largest weight increases
New and added positions, by percentage points of the portfolio gained
- Series Portfolios Tr81752T536+3.48 pp0.0% → 3.5%
- Tidal Trust I886364371+3.25 pp0.0% → 3.2%
- Tidal Trust I886364363+3.20 pp0.0% → 3.2%
- Invesco Exch Traded FD Tr II46138E339+3.04 pp0.0% → 3.0%
- iShares Tips Bond ETF464287176+2.36 pp0.0% → 2.4%
Biggest sells
Reduced and sold-out positions, by estimated amount sold
- State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663−$9.32MSold out
- SPDR Series Trust78468R523−$7.80MReduced
- WisdomTree Tr97717Y527−$6.34MReduced
- Vanguard Malvern FDS922020805−$5.25MSold out
- Simplify Exchange Traded Fun82889N566−$3.37MReduced
Largest weight decreases
Reduced and sold-out positions, by percentage points of the portfolio lost
- State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663−4.46 pp4.5% → 0.0%
- SPDR Series Trust78468R523−3.73 pp3.8% → 0.1%
- WisdomTree Tr97717Y527−3.06 pp4.2% → 1.2%
- Vanguard Malvern FDS922020805−2.51 pp2.5% → 0.0%
- Simplify Exchange Traded Fun82889N566−1.48 pp2.0% → 0.5%
Metrics
13F metrics for Q3 2025, computed only from the numbers in the filings. Definitions below.
- Portfolio value
- $213.4M
- +$4.30M (+2.1%) vs. prior quarter
- Positions
- 148
- +16 vs. prior quarter
- Top 10 concentration
- 33.7%
- Top 10 as share of value
- Turnover
- 37.9%
- Q3 2025, one quarter
- Average holding period
- 3.7 quarters
- Weighted by value
How these are calculated
- Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
- Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
- Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
- Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q4 2023), so positions held before then are understated.
13F filings by quarter
8 quarters, going back to Q4 2023. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.
Peak $231.3M (Q4 2024)
| Quarter | Filed | Positions | Value | Top 3 holdings | Changes | Filing |
|---|---|---|---|---|---|---|
| Q3 2025 | Nov 12, 2025 | 148 | $213.4M | Pacer FDS TrInvesco Nasdaq 100 ETFEa Series Trust | vs. Q2 2025 | SEC |
| Q2 2025 | Aug 14, 2025 | 132 | $209.1M | State Street SPDR Bloomberg 1-3 Month T-Bill ETFWisdomTree TrSPDR Series Trust | vs. Q1 2025 | SEC |
| Q1 2025 | May 14, 2025 | 159 | $177.7M | Simplify Exchange Traded FunNeos ETF TrustEa Series Trust | vs. Q4 2024 | SEC |
| Q4 2024 | Feb 14, 2025 | 170 | $231.3M | Neos ETF TrustInvesco Actively Managed ExcInvesco Nasdaq 100 ETF | vs. Q3 2024 | SEC |
| Q3 2024 | Nov 7, 2024 | 156 | $211.3M | Neos ETF TrustSPDR Series TrustAAPL | vs. Q2 2024 | SEC |
| Q2 2024 | Aug 14, 2024 | 115 | $148.2M | WisdomTree TrState Street SPDR Bloomberg 1-3 Month T-Bill ETFSPDR Series Trust | vs. Q1 2024 | SEC |
| Q1 2024 | Aug 14, 2024 | 71 | $189.9M | WisdomTree TrSPDR Series TrustState Street SPDR Bloomberg 1-3 Month T-Bill ETF | vs. Q4 2023 | SEC |
| Q4 2023 | Feb 22, 2024 | 109 | $184.3M | WisdomTree TrState Street SPDR Bloomberg 1-3 Month T-Bill ETFSPDR Series Trust | – | SEC |